Lean Innovation: High Velocity Validation & MVP Design

The most innovative companies tend to tackle the risk of developing new products upfront. There are 4 types of risks

1. Value Risk 2. Tech Risk 3. Usability Risk 4. Business Viability Risk

The most important risk any product developer needs to address upfront is value risk i.e. would customers find values in what we'd like to offer them? aka would they buy it? aka does our offer address their need?

How would you know the answer without having a business running, you might ask?

Well, that's what Lean Innovation is all about 👉 Validating your grand business/product ideas cheaply using fast experimentation and prototyping.

In this webinar, you learn how you can test your ideas at scale with not so much money in only a few weeks!!!

In this talk,

• I break down how you can validate your business ideas with your target customers in 4 weeks
• I present to you the most effective version of an agile process through which you can drive breakthrough innovation
• I break down Bonanza Design exclusive product innovation process
• I break down how you can test your MVP idea only in a week with your target customers
  This is a systematic process that aims to marry speed with quality
  And at the end of the talk, we'll have a long Q/A and exchange thoughts

Week 1: Research Opportunities
In this phase, we
✅ Define the problem/opportunity
✅ Conduct market research including competitive research, keywords/trends analysis, and user research

Week 2: Define Hypotheses & Design Experiments
In this phase, we
✅ Revisit our understanding of the opportunity thanks to the research insights from the previous week
✅ Ideate solutions & define hypotheses
✅ Design Experiments

Week 3: Run Experiments & Market Validation
In this phase, we
✅ Run experiments
✅ Fetch market inputs
✅ Prioritize the experiments based on their performance (survival of fittest!)

Week 4: MVP Design & Testing
In this phase, we
✅ Develop the MVP concept
✅ Design high-fidelity design out of the MVP
✅ Test the MVP design with potential users
✅ Learn from the insights and define the next steps

About the Facilitator: Behrad Mirafshar
Behrad is a highly experienced UX designer and an active voice in the field of Sustainability, Innovation, and Design Thinking. He studied the latter in Sweden and in 2012, moved to Berlin.
With more than 10 years of experience, he has designed applications for different industries including Automotive, Digital Health, Finance, Fintech, IoT, and HR. To share his expertise he gives Design Thinking workshops, training, and seminars.
Connect with him on LinkedIn

About Us
We are an innovation powerhouse that assists businesses to overcome their most complex growth and design challenges and innovate further -- at an unprecedented pace. We help companies at all stages to:
✔ Accelerate through the digital transformation phase
✔ Define their customer experience strategies
✔ Design applications that matter
✔ Innovate at a faster pace
✔ Move towards a sustainable future

👉 Check out our Instagram
https://www.instagram.com/bonanzadesign/

👉 Check out our website
https://www.bonanza.design